120dB Film Finance has executed a memorandum of understanding with a New York-based investment management firm for $100 million of financings.
The company made the announcement Thursday at the American Film Market in Santa Monica, Calif. Founded in 2004, the company offers gap, presale, tax credit, P&A, bridge, and finish fund loans to independent filmmakers and television producers.
“We are pleased to announce this transition in our business model as we approach our 15th anniversary, and 100th film loan since inception in 2004. Our first transaction under the new facility for BCDF’s film ‘Can You Keep a Secret,’ based upon the best-selling novel and starring Alexandra Daddario, closed in just over two weeks,” said Stephen Hays, 120dB Films’ founder and managing member. “We look forward to offering borrowers much more competitively priced loans for larger transactions, while retaining the highly attentive service that has been our model from the outset.”
120dB Films has closed production loans for “An Actor Prepares” (Jeremy Irons, Matthew Modine); “Think Like a Dog” (Megan Fox, Josh Duhamel); “The Mustard Seed” (Mira Sorvino, Kevin Sorbo); “Mara” (Olga Kurylenko); “Iron Sky: The Coming Race” (Udo Kier); “Becoming” (Toby Kebbell, Jason Patric); “A Kind of Murder” with Patrick Wilson and Jessica Biel; “Born to Be Blue” with Ethan Hawke; “The Blackcoat’s Daughter” with Emma Roberts and Kiernan Shipka; and “Kickboxer: Retaliation” with Alain Moussi and Jean-Claude Van Damme.
“While we have always had a reputation for fast closings and flexibility, it has often been a challenge competing for larger loans due to our premium pricing. With our new capital source and substantially reduced borrowing rates, we expect to better meet our borrowers’ needs in terms of both cost and scale,” said Peter Graham, 120dB Films’ managing member.